Riyad Bank Signs for
Collections HealthCheck
Dubai, 24 July 2008
- Riyad Bank, one of the largest
and most
respected financial
institutions in Saudi Arabia, has selected PIC Solutions to
conduct a Collections HealthCheck on a number of
their consumer credit portfolios.
Riyad Bank
provides a comprehensive range of consumer credit products,
supporting the full banking needs of all their customers. For
the sake of greater customer convenience, the Bank’s full
service approach is delivered through a kingdom wide network of
almost 200 branches and 1,900 multi-function
ATM’s. Through the use of cutting edge remote banking
technology, Riyad Bank brings banking into their customers’
homes, hotel rooms and offices.
PIC Solutions has conducted many different
Collections HealthChecks for over 50 clients all
over the world. These Collections HealthChecks are
particularly popular in the Middle East region and cover all
consumer credit products, as well as for Small and Medium Size
Enterprises (SME). The key objective of the Riyad Bank
Collections HealthCheck is to review the Bank’s
existing collections policies, strategies and procedures and
make recommendations for improvements. The key focus of the
assignment is to identify and recommend changes that can be
implemented in realistic timeframes and improve Riyad Bank’s
collections strategies and therefore results in ensuring that
they achieve international industry benchmarks.
During this assignment, experienced
consultants from PIC Solutions
will conduct the Collections HealthCheck on
the Riyad Bank credit
card, personal loans, car loans and home loans portfolios.
Riyad Al-Zahrani, Senior Vice President,
Retail Banking at Riyad Bank,
states, “We are committed to
improving risk management best practices throughout our
organisation. PIC Solutions
experience and knowledge will assist us to identify new
opportunities and risks involved with implementing new
strategies.”
Ian Read, General Manager of the PIC
Solutions MENASA region, based in
Dubai, comments,
“PIC Solutions provides a wide range of customer management
solutions, which deliver measurable business benefits throughout
the entire credit life cycle. Our personnel have worked with
Riyad Bank for over 10 years on a large number of varied credit
risk management assignments and we look forward to working with
the Bank on this assignment. We are delighted that Riyad Bank
has selected us to deliver another Collections HealthCheck of
their diverse range of portfolios.”
